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Detailed explanation-1: -These media reports have cited an article titled “Privatisation of Public Sector Banks: An Alternate Perspective” published in the August 2022 issue of RBI Bulletin. The article is authored by researchers of RBI.

Detailed explanation-2: -Conclusion. The governance and management of PSBs have to improve. The way to do this was outlined by the PJ Nayak committee, which recommended distancing between the government and top public sector appointments (everything the Banks Board Bureau was supposed to do but could not).

Detailed explanation-3: -The transfer of ownership, property or business from the government to the private sector is termed privatisation. The government ceases to be the owner of the entity or business.

Detailed explanation-4: -Privatisation was an important component of the great liberalisation (GL) initiated by the P.V. Narasimha Rao government in 1991, which changed the very structure of the Indian economy.

Detailed explanation-5: -In this paper, we have made the case for privatization of PSBs. Due to its better performance and adhering to the development view of the PSBs, we propose that the State Bank of India (SBI) may remain under government ownership for now, but all other banks should be privatized.